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Oil prices have paused their ascent following the outbreak of war between Israel and Hamas as a major Israeli ground offensive inside the Gaza Strip has so far failed to materialize. Brent crude dropped more than a dollar during trading on Monday, falling below $91 a barrel at midday off a month-long high of $93.64…
It has been an increasingly puzzling week for market watchers and economists alike, as the American economy continues to resist a recession and stymy policymakers hoping to lower inflation and stave off a downturn. A gangbusters September jobs report is putting the efficacy of Federal Reserve interest rate hikes into question, just as falling crude…
“Drivers are stuck in limbo as world’s oil supply reshuffles” At a gas station outside New York City, retired probation officer Karen Stowe was faced with a pump price she didn’t want to pay. She bought groceries from the convenience store instead, planning to buy cheaper gas elsewhere. “The price is so high, people have to…
“The inflation tide has turned — no thanks to the Fed” Abundant emerging signs show that the inflation war is won — no thanks to the Fed. The Federal Reserve rate-hike fixation will run wild on Wednesday, with tongues wagging over what they do and say. That likely stokes short-term volatility — up, down or…
“Saudis may boost oil output as Biden backs MBS immunity from Khashoggi suits: report” Saudi Arabia and other OPEC members are reportedly considering a boost in oil production just days after the Biden administration said it favors shielding Saudi Crown Prince Mohammad bin Salman from civil litigation related to the killing of journalist Jamal Khashoggi….
“CEOs fixing Biden’s Saudi oil mess because he won’t” Some of Wall Street’s top CEOs spent the last week on a diplomatic mission to Saudi Arabia. It wasn’t touted as diplomacy, of course. The financiers who attended the Future Investment Initiative in Saudi Arabia, known as “Davos in the Desert,” are a well-scripted bunch who…
“Letters to the Editor — Oct. 16, 2022” Fretting over Fett This issue with the competency of John Fetterman in Pennsylvania highlights what is wrong in American government (“Struggle to speak and understand,” Oct. 12). Medical or mental deficiencies are sad and tragic in everyday life, but in a situation where you are involved in…
“Biden begs OPEC for oil for political preservation — after kneecapping America’s energy industry” For the third time in fewer than eight months, Saudi Arabia has deliberately humiliated President Joe Biden on the world stage. Biden, lauded as a preeminent foreign-policy expert after a half-century in the Senate, couldn’t get the Saudis to answer his…
“Former oil exec warns ‘gas will exceed $5 again’ amid recession worries” Joe Petrowski, former CEO of Cumberland Farms Gulf Oil Group, said on Monday that he is “absolutely certain” the United States will be in a recession. Speaking on “Mornings with Maria,” he noted that a recession usually comes along with “every energy crisis,” especially…
“CNBC grills Buttigieg about White House’s gas price ‘victory lap’” CNBC anchor Becky Quick grilled Biden Cabinet member Pete Buttigieg on Wednesday as to whether the White House was premature in “taking a victory lap” over a recent decline in gas prices. Quick asked Buttigieg, the Transportation Secretary, if the White House was prepared to…